HB8803Introduced in the House
Iran War Oil Crisis Windfall Profits Tax Act
Introduced by Brad Sherman, District CA-32
What does this bill do?
Plain-English breakdown
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Official description
To amend the Internal Revenue Code of 1986 to impose a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers until the President declares that all hostilities with Iran have ceased, the Strait of Hormuz is fully reopened, and the price of oil drops below $75 per barrel.
Where it stands
Referred to the House Committee on Ways and Means.
May 13, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
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Bill history
Introduced in House
Referred to the House Committee on Ways and Means.
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